IBM Corp (NYSE:IBM) reported financial results for the fourth quarter on Wednesday after the bell. Here’s a rundown of the report.
- IBM shares are powering higher. Why are IBM shares rallying?
IBM Beats On Top and Bottom Lines
IBM reported fourth-quarter revenue of $19.69 billion, beating the consensus estimate of $19.23 billion, according to Benzinga Pro. The company reported fourth-quarter adjusted earnings of $4.52 per share, beating analyst estimates of $4.32 per share.
Total revenue was up 12% on a year-over-year basis. Here’s a breakdown of revenue by category.
- Software: up 14%
- Consulting: up 3%
- Infrastructure: up 21%
Cash flow …